Do trucks cost more to insure?
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UPDATED: Jul 8, 2023
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- Most trucks have higher values and cost more to insure
- RAM car insurance is more expensive than that of Ford F-Series trucks
- Collision auto insurance is the most expensive coverage for most trucks
- Trucks are safer than sedans and compact cars
Pickup trucks are popular vehicles known for their flexible and high-endurance performance. Trucks can be long-lasting automobiles, making them the favorite vehicle for most drivers.
But how much are car insurance rates for trucks? Do trucks cost more to insure? Is it possible to obtain affordable auto insurance if you own a truck? Don’t worry — we’re here to answer these questions and more.
Our guide reveals how much it costs to insure the most popular trucks in America, how the average insurance cost for pickup trucks compares to cars and SUVs, and why trucks have more expensive vehicle insurance.
Continue reading to learn why trucks cost more to insure. Enter your ZIP code in the free online quote tool above if you’re ready to compare multiple insurance companies near you.
Do trucks cost more to insure?
Yes, they do. However, it depends on the truck. Trucks are usually heavier than compact cars, sedans, and compact SUVs.
Trucks also contain powerful horsepower engines, advanced braking, and other features designed for heavy-duty functions.
Before we compare other vehicles to trucks, let’s examine the average monthly pickup truck insurance cost for the most popular trucks in the nation:
- Ford F-150 – $109/month
- Toyota Tacoma – $110/month
- GMC Sierra 1500 – $120/month
- Chevrolet Silverado 1500 – $122/month
- RAM Pickup 1500 – $126/month
Of the most popular trucks in America, RAM auto insurance is the most expensive. But your rates may vary. Several factors determine whether or not affordable truck insurance is available to you.
One of the most significant factors is your driving record. A clean driving record provides more affordable rates and useful discounts. High-risk drivers pay more expensive rates.
Other factors include the coverage level, the value of the truck, the driver’s age, the truck’s make and model year, and where the driver resides.
Are diesel trucks more expensive to insure?
The short answer is yes. Diesel trucks are heavier, larger, and have components that exceed the average capacity of most trucks.
How much is car insurance on a truck vs. a car?
Auto insurance for trucks is usually more expensive than it is for cars. The higher you go in the vehicle’s model year, the more expensive your monthly car insurance rates.
But what are the average insurance rates for trucks and cars? Let’s look at the latest car insurance rates for the most popular sedans and trucks.
|Popular Pickup Trucks||Monthly Car Insurance Rates||Popular Sedans (Compact Cars)||Monthly Car Insurance Rates|
|Ford F-150||$109||Honda Accord||$108|
|Toyota Tacoma||$110||Toyota Corolla||$115|
|GMC Sierra 1500/2500HD/3500HD||$120||Toyota Tacoma||$118|
|Chevrolet Silverado 1500/2500||$122||Nissan Altima||$119|
|RAM 1500/2500/3500||$126||Honda Civic||$127|
Trucks are slightly less affordable than compact cars and sedans. Large, full-sized sedans may cost more per month, but trucks are typically more expensive regarding auto insurance.
What is cheaper to insure, an SUV or a truck?
Large SUVs share the same car insurance rates as trucks, but compact SUVs are much more affordable. SUVs with fewer features and lighter weights also have cheaper rates.
Let’s review how some of the most popular SUVs compare to the most favorable trucks for auto insurance.
|Popular Pickup Trucks||Monthly Car Insurance Rates||Popular SUVs||Monthly Car Insurance Rates|
|Ford F-150||$109||Honda CR-V||$94|
|Toyota Tacoma||$110||Ford Explorer||$108|
|GMC Sierra 1500/2500HD/3500HD||$120||Toyota Highlander||$116|
|Chevrolet Silverado 1500/2500||$122||Chevrolet Equinox||$113|
|RAM 1500/2500/3500||$126||Nissan Rogue||$117|
Insurance rates for compact SUVs and standard SUVs are more affordable than that of trucks, but some trucks have SUV trims.
For example, the Chevrolet Silverado has a large SUV version. Both trims share the same engine capacity, except SUVs have a large hatchback door.
Which trucks have cheaper car insurance rates?
If you’re thinking about purchasing a smaller or less popular truck, consider buying a Chevy Colorado, a Ford Ranger, or a GMC Canyon.
But how much is auto insurance for these vehicles? Let’s take a look:
- Chevrolet Colorado – $101/month
- Ford Ranger – $103/month
- GMC Canyon – $109/month
Each truck has car insurance rates that are less expensive than the most popular trucks in the United States. If you have favorable, low-risk factors, you can secure more affordable rates.
Why is truck insurance so expensive?
There are several reasons why trucks are more expensive than sedans and compact SUVs.
Here are five reasons why car insurance for trucks costs more:
- Trucks have higher values
- They cause more damage to other cars
- Total loss accidents cause serious injuries
- There is an Increased risk of comprehensive damage during off-road commutes
- It’s more challenging to avoid obstacles
Your address is also a determining factor. Car insurance companies can look at your ZIP code and calculate your monthly rates.
ZIP codes, cities, and counties with more auto insurance claims generate more expensive monthly rates.
Case Studies: Do trucks cost more to insure?
Case Study 1: John’s Towing Service and Reliable Insurance Agency
John operates a towing service that specializes in assisting stranded motorists on the highway. He approached Reliable Insurance Agency to inquire about insurance coverage for his fleet of tow trucks. Reliable Insurance Agency offered John a comprehensive policy covering liability, collision, and roadside assistance after assessing towing-specific risks.
Case Study 2: Sarah’s Landscaping Company and Green Shield Insurance
Sarah owns a successful landscaping company that offers a range of services, including lawn maintenance and tree removal. Concerned about potential accidents or property damage, she sought insurance coverage from Green Shield Insurance. They tailored a policy to address landscaping industry risks, including equipment damage and liability during tree trimming.
Case Study 3: Mark’s Food Delivery Business and QuickCover Insurance
Mark recently started a food delivery business, providing meals from local restaurants to customers’ doorsteps. Understanding the importance of insurance in the food delivery industry, he approached QuickCover Insurance for coverage. QuickCover Insurance provided Mark with a specialized policy covering food spoilage, delivery liability, and vehicle theft.
The Bottom Line: Do trucks cost more to insure?
Trucks do cost more to insure, but the final verdict lies with the driver. Regardless of which auto insurance company has your policy, your monthly insurance rates depend on your characteristics.
Drivers with a poor driving record pay more for car insurance. However, a vehicle with numerous safety features can reduce monthly rates.
Also, a driver who lives in an area with lower than average car insurance claims can save money. The only way to know for sure is to compare companies in your area.
Now that you know why trucks cost more to insure, use our free online quote tool to compare quotes from multiple insurance companies in your area.
Frequently Asked Questions
Do trucks generally cost more to insure than other vehicles?
Yes, in many cases, trucks do tend to cost more to insure compared to other vehicles. Several factors contribute to this higher insurance cost.
What factors contribute to higher insurance costs for trucks?
The following factors can contribute to the higher insurance costs for trucks:
- Vehicle Value: Trucks, especially new or high-end models, often have a higher market value than other types of vehicles. This increased value typically leads to higher insurance premiums.
- Size and Weight: Trucks are generally larger and heavier than standard cars, which can potentially cause more damage in accidents. Insurers consider this increased risk and adjust premiums accordingly.
- Usage and Mileage: Commercial trucks used for business purposes, such as delivery or hauling, may face higher insurance costs due to increased exposure to potential accidents and wear and tear. Personal-use trucks might also have higher premiums if they’re used for off-road activities or towing.
- Repair Costs: Parts and repairs for trucks, particularly heavy-duty or specialized trucks, can be more expensive than those for regular cars. Insurance companies factor in these higher repair costs when determining premiums.
- Safety Features: While trucks often have advanced safety features, such as collision warning systems or stability control, they may also have specific safety concerns due to their size and weight. Insurers may consider these factors when determining premiums.
Are insurance costs for trucks the same for all types of trucks?
No, insurance costs can vary depending on the type of truck. Different classes of trucks, such as pickup trucks, cargo vans, or commercial trucks, may have varying insurance rates. Additionally, the specific features, purpose, and usage of the truck can also influence the insurance costs.
Can I take steps to reduce the insurance costs for my truck?
Yes, there are several steps you can take to potentially reduce your truck’s insurance costs:
- Shop Around: Compare insurance quotes from different providers to find the best rates for your truck. Different insurers may offer varying premiums based on their evaluation of risk factors.
- Opt for Higher Deductibles: Increasing your deductible—the amount you pay out of pocket in the event of a claim—can lower your insurance premiums. However, be sure to choose a deductible that you can comfortably afford.
- Install Safety Features: Enhancing your truck’s safety features, such as adding an alarm system or anti-theft device, may help reduce insurance costs. Check with your insurance provider to see if they offer any discounts for safety features.
- Maintain a Good Driving Record: A clean driving record with no accidents or traffic violations can positively impact your insurance rates. Safe driving habits and avoiding any incidents will help keep your premiums lower.
- Bundle Policies: If you have multiple insurance needs, such as auto and home insurance, consider bundling them with the same insurance provider. Many insurers offer discounts for bundling policies.
- Consider Usage-Based Insurance: Some insurance companies offer usage-based insurance programs where your premiums are based on your actual driving habits. If you have a low mileage or drive safely, this can result in lower premiums.
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